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Hi! Guru, Kindly advise me the following:

I have not owned a property at all be it HDB or Private, thus I am looking forward to buy the a BTO in an area of my liking, but I would also like to buy a condo in the between the MOP, and would like to do so using my dad's name , he is 65, can someone provide me a calculation of my cash flow ? Thanks very very much! :)
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1 Answer

Mike Lim
Replied
Afternoon Lawrence,

Firstly, getting BTO is a big challenge, if you are single. Even getting it as married couples with kids will be dependent on luck. The financing should be quite direct, either bank loan or HDB loan, based on your income ceiling.

To get another unit, under your dad's name, with mortgage under your name, would be possible. As to whether you can get 60% or 40% loan, assuming that you have not cleared your HDB mortgage, would also be dependent on your income and credit status plus loan period at time of application.

FYI
Mike Lim
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